Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.003%

Price spread now: edgeX against Lighter−0.171%79s7-day average −0.135% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$290.289% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.199%+$20 · spread now −0.171%, 7d avg −0.135%

Together, before fees+0.195%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.036% cheaper against Lighter than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.135%. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AAVE	141.99	0.0096	pay 0.0012% / 1h	55m 49s	$4.6M	$2.2M	10x
Short	edgeX AAVEUSDC	141.75	0.0100	get 0.0050% / 4h	1h 55m	$109K	$284K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee edgeXbpOrdersPrice spread, now −0.171%Rate

Funding earned: $0.84
Price spread: −0.171% → −0.135%: −$3.56
Slippage, 4 orders: −$19.88
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$31.6
Costs to cover: 0.289%
Break-even: 270.4 days

Slippage from Lighter: live order book, 5 min ago; edgeX: live order book, 55 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 5 min ago	2.92 bp	4.1 bp −$4	10.6 bp −$106	36.3 bp −$3,635	doesn't fit
Sell edgeX live order book, 55 min ago	3.90 bp	8.4 bp −$8	11.9 bp −$119	doesn't fit	doesn't fit

AAVE on 42 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit AAVE_USDC-PERPETUAL	−0.5178%	1h	141.09	−0.637%	$207K	$323K	50x	as long as short
SoDEX AAVE-USD	−0.0106%	1h	141.71	−0.200%	$7K	$242K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	141.89	−0.075%	$102K	$6K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	141.77	−0.158%	$45K	$1.3M	3.4x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	141.89	−0.076%	$79K	—	150x	as long as short
01 Exchange AAVEUSD	+0.0008%	1h	141.79	−0.144%	$10K	$1K	5x	as long as short
Phemex AAVEUSDT	+0.0012%	8h	141.83	−0.115%	$3.9M	$3.6M	50x	as long as short
Bybit AAVEUSDT	+0.0024%	8h	141.66	−0.235%	$61.3M	$59.9M	75x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.545%	$422	$51K	12x	as long as short
ApeX Omni AAVEUSDT	+0.0041%	1h	141.82	−0.123%	$132K	$221K	50x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya AAVERUSDPERP	+0.0044%	1h	141.75	−0.175%	—	—	20x	as long as short
Phoenix AAVE	+0.0062%	1h	141.94	−0.038%	$4K	$81K	10x	as long as short
Orderly PERP_AAVE_USDC	+0.0086%	8h	141.75	−0.172%	$17K	$2K	10x	as long as short
Lighter AAVElong	+0.0096%	1h	141.99	long leg	$4.6M	$2.2M	10x
Paradex AAVE-USD-PERP	+0.0100%	8h	141.74	−0.177%	$13K	$444	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	141.72	−0.196%	$815K	$310K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	141.90	−0.066%	$77.9M	$28.3M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	141.80	−0.137%	$1.2M	$1.1M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	141.89	−0.073%	$346K	$312K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	141.70	−0.209%	$63.9M	$162.8M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	141.62	−0.263%	$16.4M	$52.7M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	141.84	−0.108%	$94K	$205K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	141.74	−0.179%	$8.2M	$13.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	141.69	−0.214%	$22.0M	$21.7M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	141.75	−0.172%	$10.2M	$9.2M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	141.75	−0.172%	$29.2M	$15.9M	75x	as long as short
BingX AAVE-USDC	+0.0100%	8h	141.70	−0.207%	—	$6.5M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	141.89	−0.073%	$388K	$601K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	141.71	−0.199%	$3.7M	$692K	—	as long as short
edgeX AAVEUSDCshort	+0.0100%	4h	141.75	−0.171%	$109K	$284K	20x
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.85	−0.102%	$453K	$3.2M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	141.80	−0.137%	$134K	$370K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	141.76	−0.162%	$2K	$1.1M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.16	+0.118%	$660K	$1.4M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	141.78	−0.151%	$164K	$106K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	141.61	−0.268%	$913K	$1.5M	50x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	141.80	−0.137%	$120K	$146	10x	as long as short
RISEx AAVE/USDC	+0.0112%	1h	141.79	−0.142%	$172K	$206K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	141.85	−0.101%	$3.3M	$3.3M	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0240%	1h	141.86	−0.094%	$752K	$2.2M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0253% / S −0.0360%	1h	141.85	−0.105%	$110K	—	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0306%	1h	141.90	−0.063%	$3.5M	$1.9M	50x	as long as short